Infranord (I) Q1 2026 earnings summary

Executive summary

• Net sales increased to 1,073 MSEK, up 5.6% year-over-year, driven by strong order backlog and growth in Construction and Technology segments.

• Operating loss improved to -43 MSEK from -76 MSEK year-over-year, despite seasonal weakness due to winter weather.

• Order intake declined to 848 MSEK from 1,368 MSEK, while order backlog remained stable at 7,809 MSEK.

• A significant framework agreement for technology buildings was secured, valued at approximately 200 MSEK.

Financial highlights

• Net sales: 1,073 MSEK (1,016 MSEK prior year).

• Operating result: -43 MSEK (-76 MSEK prior year); operating margin: -4.0% (-7.5%).

• Net result: -49 MSEK (-70 MSEK prior year).

• Cash flow from operations: -106 MSEK (-23 MSEK prior year).

• Interest-bearing net debt: 1,131 MSEK (895 MSEK prior year).

Outlook and guidance

• Positive market outlook supported by Sweden’s new national transport infrastructure plan (2026–2037), increasing funding for rail maintenance and investments.

• Norwegian market remains stable, with increased focus on reinvestment and maintenance over new construction.

• Ongoing efforts to improve cost control, operational efficiency, and safety culture.